Author: The Editorial Team

NAIROBI (Capital Markets in Africa) – Safaricom Plc accused Kenya’s telecommunications regulator of failing to enforce investment requirements for smaller competitors in return for their licenses, meaning the market share of East Africa’s biggest listed company went unchallenged. Kenyan lawmakers are studying a report by U.K.-based advisory group Analysys Mason that found Safaricom to be a dominant player in mobile money and mobile communications. It recommended the company open up its mobile-money platform known as M-Pesa to…

JOHANNSBURG (Capital Markets in Africa) – South African banks face another wasted year for earnings growth as the euphoria that greeted Cyril Ramaphosa’s ascendancy to the presidency fades with the reality of the challenges facing the economy. The country’s largest lenders start reporting first-half results from next week against the backdrop of tax hikes, record gasoline prices, stubbornly high unemployment and an economy that is showing little sign of recovering after shrinking in the first quarter. While banks have…

ACCRA (Capital Markets in Africa) – Ghana’s banking regulator said it created a new lender through a merger of five insolvent banks as the country issued 5.8 billion cedis ($1.2 billion) in bonds to clear their debt. Bank of Ghana revoked the licenses of Unibank Ghana Ltd., Royal Bank Ltd., Beige Bank Ltd., Sovereign Bank Ltd. and Construction Bank Ltd., GovernorErnest Addison told reporters Wednesday in the capital, Accra. The lenders were among the smallest of Ghana’s…